St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-12-10
THE COMMERCIAL RECORD.
The Excitement of the Past Two Weeks
Has Died Out in the Chicago
Wheat Pit,
Despite the Fact That a Local Firm
Dumped 10000 Bushels On
the Market.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.
Snecial to the Globe.

Special to the Globe.
CHICAGO, Dec. 9.-The markets opened
slightly lower all around and quiet. Wheat
cables were rather bearish in tone, or more
correctly speaking they were not bulllsh,
aud anything that is not distinctively bullish
is regarded now as bearish in influence. The
foreign markets. like our own, have paused.
The foreign markets climb uphill slower
than ours. pause quicker and on less provo
cation and travel down hill faster That IS
because they are always consuming and never
producing Nevertheless there was nothing
radically bearish in the temper of the trade,
and yellow tissue war bulletin suticed 10
advance the whole speculative list. At the
opening there was a great deal OF corn press
ing for sale, but the crowd took il and the
market hardened easily and quickly, January
going from 49IsG495sc, and May from 54ls
@5414c to 54slG 547Sc. At the end of the
first hour corn was steadily held at the i'm
provenent. May wheat opened at S4SSc, sold
off TO S4Isc. rallied i4c, and at 1880
stood at S45sc. A firm tone was
given to The provision market by
the estimate of the Cincinnati Price Cur
rent that the number of hogs Killed this
season would tall 100, 900 short of last year
The Price Current is VIGOROUSLY and cOnsis-
tently bearish on provisions. and # 1t admits
a shortage of 100. 900, the trade is prepared
to believe the actual figures will 100000
Nav pork ranged at S15,@ I5.12l2 the
first hour: May lard S7.60G7.65, ana March
ribs, $500 7.G2I2. There was no excite
ment in the pit, and
TRADE WAS LIGHT.
Firmness was the governing feature of the
markets all forenoon. The trading crowds
on change are not through bulling grain and
provisions, though The outside is resting on
lis laurels large amount of wheat corn
and pork has been sold for country account
of late and profits taken in or losses stopped.
An equally large amount is still held by
country men who are looking for d further
advance but for the past forty-eight hours
the mail of commission merchants has been
full of letters from their correspondents,
indicative OF a desire to sell stuff they not
only want to sell, but they want to ship the
stuff i'll Receipts are already on the increase,
estimates for tomorrow being 319 cars, but
receivers and country shippers are
loud in their complaints of 4 scarcity of ears.
If cars could be obtained, the movement
of corn from the back country would swell to
large proportions at once. During the last
couple of hours of the session May wheat
ranged 81 S4GLS5lsc, and May corn 54s4d 0Jc.
Wheat was the stronger of the two and led on
little bulges, but both cereals displayed sGs-
tanned strength that surprised traders, who
had been counting on a break, and CRATE
fully disappointed the bulls. The scalpers
made repeated drives at the market, but i'll
almost every instance covered their trades at
loss. Hutchinson sold large lines of wheat
on the soft spots finding the bottom several
times Rumsey & Buell. sold nearly 100000
bols Of Nov r1r- bp1Ou S12t0 RlOOn1
was doing nothing as far as can be ascer-
tanned The provisions market oatinued
narrow all day. Cudahay sold few thousand
barrels of pork soon after the opening, and
when he retired Robert Warren and the
scalpers bid prices up, January pork going to
SI47O, May pork to S15.3O, May lard to
1913 and March ribs TO 1913. There were
some big lines of stuff offered at the top,
Stewart being especially anxious to work off
lot of March ribs above $40. The volume
of trade was light, taking the day through,
and the market was without interesting or
new features.
THE ROUTINE REPORT.
CHICAGO. Dec. .9.-On change to-day May
wheat opened at S43Sc, against last nights
closing al S4S4c. on reports of heavy rains in
the Southwest. Corn opened l4c of at 54Ac
for May. 1t showed strength. Brokers in
provisions are bearish. January pork opened
weeks has died out of the wheat pit. May
sold from S45sc down 10 S4Ssc and back TO
the former price. Only once during the
morning did it go below that figure, and that
was when a local firm dumped 100000 bu
on the market. This was gobbled up i'm
mediately. and the price advanced to SoIsc
and held firm at that During the morning
May corn. held firm around 5434c, but heavy
buying by q local operator put il up to SOC
after this When corn advanced il took the
provision market with it. The closing prices
were: May wheat, S5l4@ S5$sc; May corn.
547Bc bid; May oats, 35s4c asked; January
pork, S14.55: January lard, $50; January
short ribs, $3.50 asked
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. .. December, opening al 761sc,
closing at 71l2c: January, opening at 114c,
closing at Use; February. opening at lsc,
closing at 7S7sc: May, opening at o45sc, clos
ing at S54c. Corn-No. =, December, open
ing at 49c closing at 49l2c; january, OPEN
ing al 1850, closing at 49a4c; February,
opening at 1899. closing at soc; May.
opening at 54l4c, closing at 547sc.
Oats-No 2, January, opening at 30I2c,
closing at 305sc: May, opening at 3314c,
closing at 33s4c. Mess Pork, pei. bbl-
January. opening at S14.50, closing at
S1465: February, closing at S14.S0; May.
opening at SD closing at SIS. 22l2. Lard,
per 100 lbs-December. opening at S7.15,
closing at S7.22I2; January, opening at
S7.22I2. closing at $50: February, open
Ing at $780,, closing at $40; May, open
ing at S7.6ol2, closing at $40. Short
Ribs, per 100 lbs-January, opening at
$40, closing Assoc: February, opening at
$3.50. closing S769l2; March, opening at
S7.62l2, closing at $40. Cash quotations
were as follows: FIOCc-Puces nominally
unchanged. with the exception of winters,
which are in light stock and held iirmer.
Wheat-No. 2 spring, 77A@779sc; No. 8
spring, 67I2c: No. = red. 79I2c. Corn-No.
2, 49I2c. Oats-NO- 2, 31l2@3lc. Rye-No. 2.
60c. Barley-No. ., 72@76c. Flax seed
No. l, Sl.25. Timothy seed-Prime. So. so.
Mess pork, per Dbl, Sl4 25@1 AGO: Lard,
per 100 lbs. S7.20@7. 22I2. Short rib sides
tloose) 81 42l207 .47l2; dry sailed shoulders
lboxedl. $9.9o@G; short clear sides boxed;
S7.SC07.S5. Whisky-Distillers' finished
goods. per gallon, S11O Sugars-Cut loaf,
7l2@sI4 granulated,7 1-5c; Receipts-Flour,
$4,000 bbls; wheat, II coo bu; corn, So,
600 bu: oats, 1O7, 900 bu; rye, 5000 bu;
barley, $1,000 blu. Shipments - Flour,
$1,000 bbls: wheat, $4,000 bu; corn, o.
600 blu; oats, 81 900 bu: rye, 5000 bu;
barley, IL, 900 blu. On the produce exchange
to-day the butter market was quiet: fancy
creamery. 294@31c; fancy dairy, 25@ &c.
Eggs, 2I0l22c.